| Block of flats in Upper Kenilworth |
I am privileged to offer a unique opportunity for an investor to acquire a sizeable piece of land and a delightful double storey block of flats in the heart of Upper Kenilworth. The property is fully registered as a sectional title scheme and includes GR4 zoning, four spacious apartments, 4 covered parking bays, 4 open bays and 4 visitors bays. The two ground floor apartments have their own patio and the one has a private garden. The upstairs apartments have open decks with magnificent mountain views.
The complex has been fortunate to always have excellent tenants who have taken care of their apartments as well as the common property. Rentals are competitive however, indications are that rentals will be increased further from February 2025. The current leases all end on the 31st January 2025.
The property would be ideal for a developer who would like to expand the property and either build a much bigger apartment block or someone who would like to build on to the existing scheme. This would be a good investment as is or for someone who would like to live in one and rent out the other three to add to income.
The property is secure with a motor gate and electric fencing. Access to all parts of the Southern Suburbs is very convenient.
The property has a large rainwater tank and an irrigation system. View now to unlock this opportunity.
* Levies are not currently charged so are just estimated.
ERF Size 980 m²
Building Size 354m²
Rates R3,180 per month
Sectional Title Levies R2,000
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